AAA rating likely to be downgraded

Original article by Michael Read
The Australian Financial Review – Page: 15 : 13-May-21

S&P Global Ratings placed Australia’s triple-A credit rating on negative outlook in April 2020, in response to the COVID-19 pandemic. The Commonwealth Bank has warned that Australia could potentially be downgraded to AA+ when S&P undertakes its annual review of the nation’s credit rating in September. Fixed income strategists Philip Brown and Martin Whetton attribute this to Australia’s rapidly growing net debt. However, ratings agencies are generally positive about Budget measures aimed at further stimulating the economy.

CORPORATES
S&P GLOBAL RATINGS, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

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